Services’ exports grow by 6.03% to $5.45 bln in 8 months
ISLAMABAD: The export of various services saw a rise of 6.03% during the first eight months of the current fiscal year compared to the same period last year, as per the data released by the Pakistan Bureau of Statistics (PBS).
According to the PBS figures, Pakistan generated $5.459 billion through service exports from July to February (2024–25), compared to $5.148 billion during the same months in 2023–24.
Conversely, the import of services also experienced a growth of 12.03%, reaching $7.709 billion during the review period, up from $6.881 billion in July–February (2023–24).
As a result, the services trade deficit widened by 29.85%, increasing from $1.732 billion last year to $2.250 billion in the ongoing fiscal year.effects of imports and exports
On a year-over-year basis, the export of services in February 2025 climbed by 5%, reaching $709.96 million compared to $676.17 million in February 2024.
Meanwhile, imports surged by 32.70%, rising from $763.42 million to $1,013.02 million in the same month, according to PBS data.
Looking at the month-to-month comparison, service exports increased by 2.50% in February 2025 compared to $692.62 million in February 2024.
However, service imports dropped slightly by 1.08% in February 2025, amounting to $1,013.02 million, down from $1,024 million in February 2024.
In the meantime, the export of goods from Pakistan also saw a 7.69% increase during the first nine months of the current fiscal year, compared to the same period of the previous year.
Merchandise exports stood at $24.690 billion during July–March (2024–25), up from $22.926 billion during July–March (2023–24), according to PBS data.
On the flip side, imports rose by 6.33%, reaching $42.589 billion in the first nine months of this fiscal year, compared to $40.054 billion during the corresponding period last year.
Consequently, the overall trade deficit widened by 4.50%, reaching $17.899 billion, as compared to $17.128 billion in the previous year.
